Pros
Great engineering company. You can work with lots of technologies, products and markets. You get to work with people from all over the world and all over the industry - from phones to jet engines. You can get into the nitty-gritty of projects and problems pretty quickly because many people have generally been there a long time and consequently know what to do in many types of situations. Lots of mentors around.
Cons
You somehow always feel like you are under-compensated, whether it is true or not. If you are not in MA you may end up reporting into there to someone who just happens to be located in the right place. Pretty much everything has been off-shored to Asia (including many customers' operations) so if there are any manufacturing or development or customer issues to be resolved (as there always are in every company) you can find yourself working over the phone late into the evening trying to get things done or find things out. In a different type of industry this is time that you could be spending with your family. I guess that is just the way things are now in every manufacturing industry, not just at Analog Devices.